ADC Therapeutics Announces $105 Million Underwritten Offering of Common Shares and Pre-Funded Warrants

Core Viewpoint - ADC Therapeutics SA has announced an underwritten offering of common shares and pre-funded warrants, aiming to raise approximately $105.0 million before expenses [1]. Group 1: Offering Details - The company will sell 13,411,912 common shares at a price of $4.900 per share [1]. - Additionally, pre-funded warrants to purchase 8,163,265 common shares will be offered at a price of $4.812 per warrant [1]. - The offering is expected to close on May 8, 2024, pending customary closing conditions [1]. Group 2: Underwriters - Jefferies, Guggenheim Securities, and Cantor are acting as joint book-running managers for the offering [2]. Group 3: Regulatory Information - A registration statement for these securities has been filed with the U.S. Securities and Exchange Commission (SEC) and was declared effective on March 14, 2024 [3]. - A preliminary prospectus supplement related to the offering has been filed and is available on the SEC's website [3]. Group 4: Company Overview - ADC Therapeutics is a commercial-stage biotechnology company focused on improving cancer treatment through next-generation antibody drug conjugates (ADCs) [5]. - The company's product ZYNLONTA has received accelerated approval from the FDA and conditional approval from the European Commission for treating relapsed or refractory diffuse large B-cell lymphoma [5]. - ADC Therapeutics is based in Lausanne, Switzerland, with operations in London and New Jersey [6].